Tag: ProPublica investigation

Home ProPublica investigation
Post

The $2.8 Billion Heist: How Kansas Taxpayers Are Buying a Stadium They’ll Never Own

Kansas's Legislative Coordinating Council approved $2.775 billion in public subsidies for a new Chiefs stadium in a 30-minute closed-door meeting—the largest stadium subsidy in American history. The Hunt family, worth $6.53 billion, will pay 40 percent of construction costs while retaining 100 percent ownership and all revenue streams. Eighty-three percent of economists oppose such subsidies, and Kansas's own failed STAR bonds projects predicted this disaster. The state will finance billionaire infrastructure while ranking 41st in education spending and leaving 150,000 residents without healthcare. Every $15 beer sold will remind taxpayers: they built the stadium, will eventually demolish it, but the Hunt family pockets every dollar.